Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 12 - Payments from which amounts must be withheld  

Subdivision 12-E - Payments where TFN or ABN not quoted  

Payment in respect of investment

SECTION 12-160   12-160   INVESTMENT BODY UNAWARE THAT EXEMPTION FROM QUOTING TFN HAS STOPPED APPLYING  


Section 12-140 or 12-145 does not require an amount to be withheld if:


(a) a provision of Division 5 of Part VA of the Income Tax Assessment Act 1936 has applied to the other entity in relation to the investment, but no longer applies when the payment is made; and


(b) when the payment is made, the *investment body has not been informed of anything that resulted in the provision no longer applying.

Note:

Division 5 of Part VA of that Act provides, in certain cases, that even though an entity has not quoted its tax file number it is taken to have done so.


 

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